Are You Spending Enough on Marketing? Most Law Firms Aren't

🚨 Most law firms are stuck in a dangerous loop—spending too little on marketing and wondering why they're not growing. In this episode, Eddie and John break down the true cost of underinvestment, explain why $1,000 a month won’t cut it, and offer a clear roadmap for small firm owners ready to level up. Whether you've been burned by bad agencies or you're just unsure what to budget, this conversation pulls no punches and delivers clarity.

📌 Key Takeaways:

• Spending too little on marketing can sabotage your firm’s growth—even if you’re doing “something.”
• A realistic marketing budget should reflect your revenue, goals, and local competition.
• You can’t generate and nurture leads well on a shoestring—stop treating marketing like an afterthought.

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Chapters

• 0:00 Current Marketing Spend Reality
• 0:20 Spending Money to Make Money
• 0:56 Lead Nurturing Importance
• 1:34 Revenue Investment Guidelines
• 2:17 Episode Closing and CTA

Transcript

Speaker 1: 0:00

vast majority of firms are spending less than a thousand dollars to market themselves. I mean, what sort of things do attorneys need to hear to increase their marketing budget, and why should they do it? I understand why you're hesitant. I understand why it's a gamble. I understand you may have been burned so many times by bad marketing agencies in the past. Why should you dip your toe back in the water and spend more than a thousand? How much should they be spending?

Speaker 2: 0:22

Yeah, I mean the simple thing is you got to spend money to make money, right, like that's easy business principle, I mean. But it also, you know, let's just just assuming that you know people here on this webinar are spending about a thousand dollars a month. If you're trying to just generate leads, like if you are just doing SEO or just doing pay-per-click ads, that $1,000 a month may not really cover what you need to get the results that you absolutely need to keep the business going or keep growing in the way that you want it to grow. Because, like I mentioned earlier, you've also got to nurture those leads. It's great if you generate 50 leads a month, but if you're not doing anything with them and you're lucky that one or two of those 50 convert, like there's so much more money and revenue you're leaving on the table just because you're not nurturing them. You know you can do one of those things decently for a thousand dollars a month. You can either generate leads or you can nurture them for a thousand dollars a month, but you cannot, absolutely cannot, do both really well, and so that's that's.

Speaker 2: 1:32

You know, broadly speaking. You know probably about 10% of your revenue should be reinvested back into marketing. That's a general baseline but it kind of depends on, like, where you're located. You know, like, if you're in a New York or Chicago or Los Angeles, like a giant metro market, obviously you know you're probably going to need to invest a little bit more than that because you have so much competition. But at the same time, like if you're in Bismarck or you know Cheyenne Wyoming and you have like two other law firms that you're competing with, you may not have to. You know Cheyenne Wyoming and you have like two other law firms that you're competing with, you may not have to invest as much into your market.

Speaker 1: 2:07

No offense to anyone in Bismarck or Cheyenne they may or may not be watching this, but that's completely fine. I don't think you buy lunch in New York for a thousand dollars anymore. Thanks for listening to today's preview for this week's episode. If you would like more clients and better clients for your law firm, go to growmylawfirmfastcom that's growmylawfirmfastcom and get started today.